A Retford based manufacturer is on course to double in size after reporting an additional £53 million worth of new and retained contracts.

Icon Aerospace Technology say the successful growth is down to a ‘Continuous Improvement’ programme it implemented one year ago.

And they are expecting to double in size by 2019.

The business, who make parts for the likes of Rolls-Royce, Airbus and Boeing, was selected to join a Regional Growth Fund sector initiative after being identified as a leading aerospace manufacturing supplier.

The initiative is backed by Sharing in Growth (SIG) – a Government enterprise aiming to further UK aerospace businesses globally.

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The innovative programme aims to raise the capability of UK aerospace suppliers to share in the anticipated growth of the global aerospace market

And the firm say this has helped lead to a 33 per cent improvement in production rates, a 20 per cent point improvement in yield, and a turnover growth of 29 per cent.

As a result, Icon has secured new and retained contracts to the value of £53million.

Icon supplies products such as composition polymer seals and ducting as well as in-flight refuelling hoses to several leading aerospace companies, across the USA, UK and mainland Europe.

And now it wants to further expand its market presence, estimating that by 2019, 75 per cent of new commercial aircraft will have one of its parts installed.

Tim Pryce, CEO of Icon Aerospace Technology, said: “One year on from the launch of our Continuous Improvement programme, i4, and with our partners from SiG, we can see the benefits that have been created for the company.

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“These are visible not just from the value of the new work we have won, and in our improved turnover, but also in the enthusiasm and commitment of our team.

“Over 70 of our employees have participated in the programme, with 12 on track to gain a National Vocational Qualification, in Business Improvement Techniques.

“Our customers have responded with tremendous support and encouragement to the major investments we are making in scaling the business.”

Andy Page, CEO of Sharing in Growth, added: “Since participating in the SiG programme, Icon has very quickly gained traction to become a recognised leader in the aerospace supply chain.

“Thanks to their commitment and trust in our team, they are a real success of the SiG initiative and we are excited about continuing to work with them and help them, and in turn UK PlC, achieve their high growth ambitions.”